The Wall Street Coach with Kim Ann Curtin Ep 66: Anand Sanghvi of Sang Lucci: FTX & The Power of Your Trading Mindset
Nov 17, 2022
Anand Sanghvi, a seasoned large-cap options and futures trader and founder of Sang Lucci, dives deep into the fallout from the FTX collapse. He discusses the human tendency to forget financial crises and the importance of risk management in crypto trading. Anand emphasizes the psychological side of trading, sharing how ayahuasca helped him cope with losses. He also highlights the value of community in trading, mentoring young traders, and balancing life beyond just financial gains. His insights on resilience and discipline are both practical and inspiring.
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Why Crypto Enabled Massive Arbitrage
- Crypto lacked a consolidated price feed, reviving large arbitrage opportunities that made Alameda hugely profitable.
- That same structure invited leverage on FTT which triggered FTX's collapse when confidence evaporated.
Move Crypto Off Exchanges When Possible
- Do keep long-term holdings in cold storage like a Ledger to prevent exchange losses.
- Avoid leaving assets on an exchange when you don't need them for active trades because withdrawals take time.
We Keep Repeating Financial Mistakes
- Humans forget painful market lessons and are prone to re-enter similar risk patterns over time.
- That collective memory lapse fuels repeated cycles of bubbles and crashes.
